Fire Insurance is governed by All India Fire Tariff effective from 31.3.2001 issued by Tariff Advisory Committee, a Statutory Body. It is a commercial policy covering building, offices, machinery, contents and personal belongings of the office. It mitigates the risk of loss of customers arising from fire breakout. The insured should take all possible steps to minimize the loss.
The market value of the property is considered while insuring the sum. The amount of premium depends on a number of factors and individual policies of different insurers.
List of Some of Insurance Companies Offering Fire Insurance:
ICICI Lombard -Fire and Special Perils Policy (Material Damage)
United India Insurance Co. - Standard Fire and Special Perils Policy
*Terms and conditions may vary in different insurance companies